bank rates

PenFed Rings In 2014 With Top CD Rates

PenFed logoHappy New Year!

Pentagon Federal Credit Union surprised us last month by offering a 3.04% APY 5-year CD. The surprises continue, as this nationally available deal has been extended into January.

We didn’t think this unusual offer would last through the end of 2013, let alone be extended into 2014.

But Virginia-based PenFed announced its certificate yields for the month this morning. It left its great rates in several terms unchanged.

You can find the full details of the offers in last month’s review, as well as information on how to join this credit union. It’s really easy.

PenFed’s 60-month CD is a far better deal than any other bank or credit union offers to savers nationwide.

Compare, for example, PenFed’s CD to the best bank deal on our CD Rates Leaderboard.

Florida-based EverBank pays 2.16% APY on 5-year CDs. With a $10,000 deposit, you’d earn about $500 more during the term with PenFed’s CD versus EverBank’s.

Higher deposits will only widen that gap.

If you missed this deal in December, or you have extra money freed up in the new year, now’s the time to jump on this offer. It’s just far too unusual in this interest rate environment to pass up.

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